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Berkshire Hathaway s Latest Investment Is Insurer Chubb
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Chubb s 4Q Earnings Beat Estimates, Fiscal Year Profit More Than Doubles
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Provided by Dow Jones By Micah Maidenberg Chubb Ltd. s profit recovered in the first quarter and was ahead of forecasts from analysts. The insurer reported quarterly net income of $2.3 billion, or $5.07 a share, up from $252 million, or 55 cents a share, for the year-earlier period, when the Covid-19 pandemic was first spreading in many markets. Core operating earnings, which strips out certain gains after taxes, totaled $2.52 a share in the quarter and therefore was ahead of the $2.47 a share that analysts predicted for that metric, according to FactSet. Chubb said it wrote $8.66 billion in premiums on a net basis in the period, up almost 9% year over year.